Mindcraft Mining Inc. plans a project to strip-mine a wilderness area. Setting up operations and initial digging will cost $5 million. The first year's operations are expected to be slow and to net a positive cash flow of only $500,000. Then there will be four years of $2 million cash flows after which the ore will run out. Closing the mine and restoring the environment in the sixth year will cost $1 million.

Calculate the project's NPV at a cost of capital of 13%. Enter your answers in dollars and not in millions of dollars. Use a minus sign to indicate a negative NPV. Round PVF values in intermediate calculations to four decimal places. Do not round any other intermediate calculations. Round your answer to the nearest dollar, don't include the "$". $

Calculate the project's IRR. Do not round intermediate calculations. Round your answer to the nearest whole percentage and don't include the "%". %